The Role of Innovative Activity of Business in the Re-industrialization of the National Economy: Roundtable Discussion

The round table is devoted to the discussion of the problem of imbalances in the development of the national economy, its orientation mainly on the primary sector of industry, trade and financial services, the low level of high-tech development and innovation activity of Russian companies. The complex of social and economic problems of the Russian economy, which does not allow to use the existing stimulating measures effectively is analyzed. The proposals on stimulation of innovation activity of domestic enterprises of the business sector and growth of spending on research and development in order to re-industrialize the domestic production are presented. The proposals on stimulation of the growth of R & D expenditure of business enterprise sector include the following: further development of the financial sector of the domestic economy, particularly the development of the stock market; the development of institutions which support the innovation activity, such as venture capital funds, seed funds, business angels; the introduction of tax exemptions on profits from the sale of the shares of innovative enterprises; regular review of the list of technological equipment covered by preferential tax treatment for value added tax to stimulate its production inside the country. During the discussion of the report the following issues were mentioned: the improving of the mechanisms of direct support of innovative business; the use of stimulating and directive measures to attract major, medium and small enterprises in hightech industries; the establishing of effective cooperation between the scientific and industrial sectors in order to commercialize research results.